Percival Stanion, the head of the multi-asset group at Baring Asset Management, has agreed to join Pictet in a similar role alongside two former colleagues.

Stanion will report to Olivier Ginguené, head of asset allocation and quantitative investments at Pictet. He will be joined by Andrew Cole and Shaniel Ramjee, who will also leave the multi-asset team at Barings after working their respective notice periods. Cole and Ramjee will assist Stanion, with all three based at Pictet's London office.

Pictet intends to launch a diversified growth fund for Stanion in the near future and produce further products over time.

Renaud de Planta, chief executive of Pictet Asset Management, said in a statement: “This hire demonstrates our determination to expand our existing multi-asset strategies for clients both in the UK, and elsewhere.”

Stanion will also become vice chairman of asset management, excluding Switzerland, and will co-chair a strategy unit with Ginguené, working closely with chief strategist Luca Paolini.

Pictet Asset Management manages £92 billion and is part of Geneva-based private bank Pictet Group, which manages client assets totalling £266 billion. It has a separate investment business led by Yves Bonzon which serves its wealth division.

At Baring, Stanion manages the firm's £9 billion multi-asset fund. He has scored several strategy coups over years, including a warning that markets were facing a storm in June 2008, two months before Lehman Brothers went bust. Yves Bonzon warned in October 2008 that an avalanche was set to hit Europe, leaving peripheral economies badly exposed.

Related

Following Stanion’s departure, Marino Valensise will step down as chief investment officer at Barings to take over as head of multi-asset. Barings has hired Ken Lambden, previously global head of equities at Schroders, to replace Valensise.